Portugal

Population: 10.560.000
Area: 92.391 km2
Capital: Lisbon
Language: Portuguese
Currency: euro (eur)
Gdp per capita: €14.792
Gdp growth: %1.1
Dialing code: + 351
Emergency service: 112
Embassy phone in London: 012894416
Visa requiry: no
Dublin - Lisbon distance: 1.652 km
Agent Fees: up to %10 paid by seller
Legal fees: %3
Season High: May - Sept

Buying Process and taxes * The first stage in the Portuguese buying process is a verbal, non binding offers to purchase, after which the buyer’s lawyer should carry out the requisite checks on the property, and the buyer must obtain a fiscal number from the state. * Both parties then sign a preliminary agreement setting out the terms of the transaction, and the buyer pays deposit (usually %10). * This deposit is lost at withdrawal, if the vendor withdraws; they pay a penalty of twice deposit. * When all the conditions specified in the preliminary agreement have been satisfied, both parties sign a final contract in the presence of a notary who then carries out the transfer of the deeds. At the point of signing, the balance of the cost is paid. The property must than be registered under its new ownership (although this can be done at any point before resale). * Taxes and fees include transfer tax up to %8 notaries and registry fees of %2.5 and local property taxes of up to 0.8%. * It is important to note that individual municipalities apply slightly different interpretations of the legislation and fee structure, which can lead to substantial variations in the amounts payable. Always retain a competent lawyer to guide you through the relevant legislation